BRBW Brunswick Bancorp (PK)

Brunswick Bancorp (OTCBB:BRBW):

  BRUNSWICK BANCORP AND SUBSIDIARIES CONSOLIDATED BALANCE SHEET DECEMBER 31, 2011 (UNAUDITED)   ASSETS Cash and due from banks $ 36,807,741 Federal funds sold - Total cash and cash equivalents 36,807,741 Securities held to maturity 2,000,000 Securities available for sale 70,214 Loans receivable, net 104,544,807   Premises and equipment, net 1,300,117 Accrued interest receivable 421,227 Other real estate 2,355,537 Other assets 2,770,081 TOTAL ASSETS $ 150,269,724 LIABILITIES AND STOCKHOLDERS' EQUITY Deposits Non-interest bearing $ 28,991,505 Interest bearing 84,300,706 Total deposits 113,292,211 Accrued interest payable 148,189 Other liabilities 219,058 TOTAL LIABILITIES 113,659,458 STOCKHOLDERS' EQUITY Preferred stock-no stated value 10,000,000 shares authorized and no shares issued and outstanding at December 31, 2011. Common stock - no par value 10,000,000 shares authorized;

3,119,551 shares issued and outstanding at

December 31, 2011. 6,239,102 Additional paid-in capital 1,944,611 Treasury stock at cost, 194,930 shares

at December 31, 2011.

(1,365,665) Retained earnings 30,360,343 Deferred stock compensation (568,125) TOTAL STOCKHOLDERS' EQUITY 36,610,266 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 150,269,724 BRUNSWICK BANCORP AND SUBSIDIARIES   CONSOLIDATED STATEMENT OF INCOME (LOSS) YEAR ENDED DECEMBER 31, 2011 (UNAUDITED)     INTEREST INCOME Interest on loans $ 6,871,113 Interest on investments 24,566 Interest on balances with banks 84,560 TOTAL INTEREST INCOME 6,980,239   INTEREST EXPENSE Interest on deposits 533,337 Interest on borrowed funds - Total interest expense 533,337 NET INTEREST INCOME 6,446,902 Provision for loan losses 2,929,000 NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 3,517,902   OTHER INCOME Service fees 586,340 Other income 202,516 TOTAL OTHER INCOME 788,856   Realized loss on securities (106,111)   OTHER EXPENSES Salaries and employee benefits 2,816,806 Occupancy expenses 1,199,248 Equipment expenses 187,721 Other expenses 2,384,998 TOTAL OTHER EXPENSES 6,588,773   INCOME (LOSS) BEFORE INCOME TAX EXPENSE (2,388,126) Income tax expense (credit) (872,213) NET INCOME $ (1,515,913) NET INCOME PER SHARE OF COMMON STOCK: Basic Earnings per share $ (0.52)   Average shares outstanding-basic 2,911,341